Market in a Minute

Market in a Minute & StatPak May 2018

We profile the most important market indicators every month - contract activity, interest rates, inventory, affordability and direction of the market - in an easy to read and digest summary. It's not just the numbers; it provides context to understand why the numbers are important and what they mean for the future of the market. Published for Northern Virginia, Loudoun County, Washington, DC, Montgomery County and Prince George’s County.

A quick summary of last month's contract activity is shown below. To see the complete "Market in a Minute" reports for each jurisdiction we cover, click on the corresponding links.

What's The URGENCY Index?

This is simply the measure of the percentage of homes going under contract that were on the market 30 days or less, giving a sense of how quickly buyers feel they must act to put an offer on a home. To see your market's Urgency Index click the link to view the full report.

Northern Virginia - May 2018 StatPak with Contract Snapshot from April 2018

CONTRACTS:Contract activity in April 2018 was up 3.9% from April 2017 and was up in four of the six price categories. Through the first four months of the year contract activity is down 1.8%. The average number of days on the market for homes receiving contracts was just 27 days in April 2018, down from 32 days in April of last year.

Loudoun County - May 2018 StatPak with Contract Snapshot from April 2018

CONTRACTS:Contract activity in April 2018 was up 5.9% from April 2017. Through the first four months of the year, contract activity is up just 0.8%. The average number of days on the market for homes receiving contracts was 25 days in April 2018, down from 30 days in April of last year. That’s the shortest average time on the market in the metro area in April.

Montgomery County - May 2018 StatPak with Contract Snapshot from April 2018

CONTRACTS:Contract activity in April 2018 was up just 0.9% from April 2017, but there were increases in four of the six price categories. However, through the first four months of the year, contract activity is down 3.9%. The average number of days on the market for homes receiving contracts was 32 days in April 2018, down from 38 days in April of last year.

Prince George's County - May 2018 StatPak with Contract Snapshot from April 2018

CONTRACTS:Contract activity in April 2018 was up 37.3% from April 2017, and there were increases in all four price categories with activity. Through the first four months of the year contract activity is up 23.8%. Prince George’s monthly and year-to-date increases in new contracts are by far the best in the region. The average number of days on the market for homes receiving contracts was 38 days in April 2018, up one day from this time last year.

Washington, DC - May 2018 StatPak with Contract Snapshot from April 2018

CONTRACTS:Contract activity in April 2018 was up 9.4% from April 2017, and four of the six price categories were up. Through the first four months of the year contract activity is essentially unchanged, down just 0.2%. The average number of days on the market for homes receiving contracts was 30 days in April 2018, down from 33 days in April of last year.